Category: Blockchain – Bitcoin Blockchain

The term Bitcoin Blockchain needs no introduction. Blockchain technology or better called Blockchain is the every growing database of the bitcoin transaction also called blocks. Once each block is completed it is added to the chain and creating the chain of blocks is called blockchain.

At Cryptocity News, read everything you wanted to know about the Blockchain technology. Here you can easily find the answers of imperative questions like What Is Blockchain Technology, how it works, how to harness the blockchain technology to mine bitcoins etc. Read the highly informative posts on blockchain technology and enhance your knowledge about bitcoin mining!

South Korea’s Jeju island is proposing a plan to become a blockchain haven wherein initial coin offerings (ICOs) would be allowed in the autonomous province despite the ongoing ban in the mainland. According to a report by the JoongAng Daily on Monday, the governor of Jeju Island has formally proposed that the central government of South Korea designate the island as “a special zone for blockchain and cryptocurrency” in its interests to become a hub for the blockchain industry. Jeju Island governor Won Hee-ryong notably made the proposal during a…

Industry giant and proactive decentralized tech mover IBM has filed a patent for certain aspects of blockchain technology, a newly published document revealed. The patent for “Managing a Database Management System using a Blockchain Database” explains the IBM’s intention to build a reliable database tampering detection system (IDT-DS). The proposed system would detect inconsistencies in a set of data stored in a central database concerning a partial copy of the same data stored on a blockchain database. “Aspects of the disclosure include a method, system, and computer program product for managing a…

A metal frame with four small and two large propellers – carrying a container the size of a refrigerator – rises into the air with a roar, hovering above an empty road amidst snowy fields. The video was shot on the airfield near the Russian city of Kazan, which is located to the south-east of Moscow, and the machine is a SKYF drone, designed by a team of Russian aviation engineers. According to its makers, the drone can carry up to 880 pounds, travel as far as 220 miles and work…

Havven, a decentralized payment network and stablecoin, has decided to launch on the EOS blockchain and will airdrop half of its new HAV tokens on the EOS blockchain to existing HAV holders on Ethereum. Havven wants to ensure that the payment network’s success does not depend on one blockchain. The Havven/EOSIO partnership was announced at the EOS Hackathon in Sydney, Australia as part of Havven’s plan to be blockchain agnostic and operate on several blockchains. Stablecoins such as Havven’s nUSD are designed to prevent price volatility and are used for enabling…

South Korea’s Ministry of Science and ICT will promote the training of blockchain technology as part of an effort to prepare young people for what it calls the “Fourth Industrial Revolution.” Blockchain technology is included in courses that have recently been announced by the Ministry of Science and ICT. The Ministry of Science and ICT believes the country faces a global transformation called the Fourth Industrial Revolution, according to its website, and is focusing on supporting innovation across all of society by building an environment that promotes autonomous research and…

WeChat, a messaging, social media and financial services app owned by Tencent Holdings Limited, has deployed a blockchain electronic invoice system at Shenzhen Guomao Rotary Restaurant, making the city of Shenzhen the first in China to issue invoices with blockchain technology. The blockchain invoice process, which encompasses payment, invoicing and reimbursement, was created in partnership with Shenzhen Taxation Bureau and Kingdee Software. This system was developed to simplify the process of reimbursing company employee expenses. Previous paper and electronic invoicing processes led to a cumbersome and elongated process of invoice…

Rare Carat, an American company that helps users in finding authentic diamond rings, has partnered with blockchain firm Everledger to launch a product that will keep a track of a diamond’s price, quality and origin. The new product, known as Rare Caret Report, is completely free and can be used both offline and online. In the official press release, Rare Carat explained that users will only need to enter the GIA (Gemological Institute of America) number of a diamond in order to make a decision. Details such as price, deal comparison,…

South Korea’s second-largest bank Shinhan Bank has entered into a partnership with the country’s second-largest telecoms provider KT Corp for the purpose of developing a new blockchain-based platform. The Korea Times reports that the new platform is intended to build on recent moves by regional governments across the country to introduce digital vouchers. Useful Competencies In July, CCN reported that KT Corp launched a commercial blockchain capable of handling 2,500 transactions per second, in the process becoming the first mobile carrier in the world to build such a platform. The network…

The Commonwealth Bank of Australia (CBA), the country’s largest bank, has won a mandate from the World Bank to become the sole arranger of a bond exclusively created and managed on a blockchain. Dubbed ‘bond-I’ – Blockchain Offered New Debt Instrument- with a nod to Australia’s famous Bondi beach, the pioneering issue will be the ‘first bond globally to be created, allocated, transferred and managed using blockchain technology”, the World Bank said in a press release on Friday. Following its launch, the bond will be issued and managed on a…

Blockchain technology has been deployed for Ukrainian elections in a test according to a Facebook post by Alexander Stelmakh, an official Ukraine’s Central Election Commission. A test began several weeks ago and voting is currently underway held using test coins provided by the NEM Foundation. Blockchain makes it impossible to change saved information, the post noted. The decentralization of the data is also seen as advantageous. NEM’s blockchain allows a user to create their own assets. In addition, the blockchain’s log structure includes a message box that allows the user…

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